Clydesdale Bank Announces Important Changes to Intermediary Mortgages Products

We have today made a number changes to our range of intermediary mortgage products which take effect immediately.

18th May 2011

We have withdrawn the 2 year and 5 year fixed residential products launched on the 4 May and we are pleased to announce they have been replaced with the more competitive range below:

The full revised product guide is now available our literature page.

Fixed rate residential mortgages

• 2 year fixed rate maximum 60% LTV with an initial rate of 3.29% (the overall cost for comparison is 4.5% APR)
• 2 year fixed rate maximum 75% LTV with an initial rate of 3.49% (the overall cost for comparison is 4.5% APR)
• 2 year fixed rate maximum 80% LTV with an initial rate of 3.99% (the overall cost for comparison is 4.6% APR)
• 5 year Fixed Rate maximum 60% LTV with an initial rate of 4.59% (the overall cost for comparison is 4.7% APR)
• 5 year Fixed Rate maximum 75% LTV with an initial rate of 4.99% (the overall cost for comparison is 4.8% APR)
• 5 year Fixed Rate maximum 80% LTV with an initial rate of 5.29% (the overall cost for comparison is 5.0% APR)

Offset discounted mortgages

• 2 year discounted SVR maximum 60% LTV with an initial rate of 2.59% (the overall cost for comparison is 4.4% APR)

Other important changes

In addition to the changes announced above:

• The maximum loan amount for all residential mortgages up to 60% LTV has now been increased to £2,000,000
• The minimum loan amount for all products is now £150,000
• Arrangement fee structure have been simplified - all are flat fees now and negotiable percentage based fees have been removed
• For unencumbered properties, we now offer the full switching package offering free valuation and basic legal fees for properties valued up to £2,000,000

To help you manage any application in progress, we will accept applications for the withdrawn products until 5.00 pm on Friday 20 May. Any applications received after this will be returned to you.

Thank you for your ongoing support and for further information about any of our products, please contact your local Relationship Partner.

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